So I've been trying to setup some bridge stuff lately and running into lots and lots (and lots and lots and lots) of obvious scams. I've got a couple of things that seem mostly legit- but not confident to send them my sensitive data. So I am looking for local people that people here actually know (hence, this being here and not through the marketplace) who do private money.
TN is one state that requires a state specific license to make bridge loans on 1 to 4 unit properties.
so all these so called private lenders with most of them just plain criminals looking to steal money from you
so just google licensed lenders TN those will be the ones you will work with.
Do you mean private lenders specifically or does hard money work too? To many private lenders are individuals who are just trying to place their funds vs hard money which is more institutional
@Odie Ayaga Dude your last name is awesome! I guess I use the terms somewhat interchangeably... But I think private money is more what I was looking for. Not that I would turn anyone away really.
Hard money is easy enough to find online, but I would say if you're looking for private money the first place to start is family and friends. Outside of that it's building relationships e.g. networking, reaching out to people, but you want to be careful that if you're accepting money from strangers that you're an adequate guardian of their money. I wouldn't advise it without a strong track record behind you.